switzerland

The entry into force of the WTO Trade Facilitation Agreement on February 22 is a remarkable achievement. The TFA spearheads a global effort to reduce trade costs, helping countries to connect to the global economy. This is particularly relevant for low-income countries who need trade to reduce poverty and nevertheless face costs that are on average three times higher than those of advanced economies.

The decision last week by the Swiss government to sign the OECD’s somewhat lengthily named Convention on Mutual Administrative Assistance in Tax Matters is the latest of a series of developments that have radically increased the amount and quality of tax information available to governments.